Enliven Therapeutics (ELVN) director-linked entities disclose planned stock sales

Rhea-AI Filing Summary

Enliven Therapeutics director Richard A. Heyman reported indirect sales of the company’s common stock through entities associated with him. On January 8, 2026, RAHD Capital LLC, for which he serves as a managing member, sold 1,620 shares at $25.00 per share under a Rule 10b5-1 trading plan adopted on November 15, 2024, and held 25,545 shares of Enliven common stock indirectly afterward.

Also on January 8, 2026, the Richard A. Heyman and Anne E. Daigle Trust sold 8,015 shares at a weighted average price of $25.035, and on January 9, 2026 sold a further 4,285 shares at $25.0001, both under a Rule 10b5-1 plan and held 29,392 shares indirectly afterward. In addition, Heyman is reported as directly beneficially owning 123,673 shares of Enliven common stock.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Heyman Richard A.

(Last) (First) (Middle)

C/O ENLIVEN THERAPEUTICS, INC.

6200 LOOKOUT ROAD

(Street)

BOULDER CO 80301

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Enliven Therapeutics, Inc. [ ELVN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
01/08/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	01/08/2026		S(1)		1,620	D	$25	25,545	I	See footnote(2)
Common Stock	01/08/2026		S(3)		8,015	D	$25.035(4)	29,392	I	See footnote(5)
Common Stock	01/09/2026		S(3)		4,285	D	$25.0001(6)	25,107	I	See footnote(5)
Common Stock								123,673	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted on November 15, 2024 by RAHD Capital LLC, for which the Reporting Person serves as a managing member.

2. The shares are held of record by RAHD Capital LLC.

3. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted on November 15, 2024 by the Reporting Person and by Richard A. Heyman and Anne E. Daigle Trust, UAD 01/01/1995, as amended November 1, 2016, for which the Reporting Person serves as trustee (the "Heyman Daigle Trust").

4. This transaction was executed in multiple trades at prices ranging from $25.00 to $25.235. The price reported above reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

5. The shares are held of record by the Heyman Daigle Trust.

6. This transaction was executed in multiple trades at prices ranging from $25.00 to $25.05. The price reported above reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

	/s/ Ben Hohl, by power of attorney	01/12/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

Who is the reporting person in the Enliven Therapeutics (ELVN) Form 4?

The reporting person is Richard A. Heyman, who is identified as a director of Enliven Therapeutics, Inc. and files the Form 4 as a single reporting person.

What Enliven Therapeutics share sales were reported on January 8, 2026?

On January 8, 2026, RAHD Capital LLC sold 1,620 shares of Enliven common stock at $25.00 per share, and the Heyman Daigle Trust sold 8,015 shares at a weighted average price of $25.035 per share.

What Enliven Therapeutics share sale was reported on January 9, 2026?

On January 9, 2026, the Heyman Daigle Trust sold 4,285 shares of Enliven common stock at a weighted average price of $25.0001 per share.

Were the Enliven Therapeutics share sales made under a Rule 10b5-1 trading plan?

Yes. The Form 4 states that the sales by RAHD Capital LLC and by the Heyman Daigle Trust were effected pursuant to Rule 10b5-1 trading plans adopted on November 15, 2024.

Which entities actually hold the Enliven Therapeutics shares reported in this Form 4?

The Form 4 explains that certain shares are held of record by RAHD Capital LLC, where Heyman is a managing member, and others are held of record by the Richard A. Heyman and Anne E. Daigle Trust, for which he serves as trustee.

How many Enliven Therapeutics shares did Richard Heyman beneficially own after these transactions?

Following the reported transactions, the Form 4 shows 25,545 shares and 29,392 shares beneficially owned indirectly through entities, and an additional 123,673 shares of Enliven common stock beneficially owned directly.

Are the reported Enliven Therapeutics transactions direct or indirect holdings?

The sales of 1,620, 8,015, and 4,285 shares are reported as indirect holdings, attributed to RAHD Capital LLC and the Heyman Daigle Trust, while 123,673 shares are reported as held directly.